Practical Guide to Small Bus.Health Insurance -Fringe Benefits [OBCR Anc]

Jul 15, 2014
Time: 8-4

Subject:

Tax

Credit Hours:

8.00

Price:

Member: $295.00
Non-member: $445.00

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Discussion Leader:

Susan Smith, CPA    more info

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

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Website registration for this course closes on July 14, 2014. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

A Practical Guide to Small Business Health Insurance and Fringe Benefits: 2014 and Beyond

July 15, 2014
AKCPA Conference Room
Anchorage, AK

The Affordable Care Act (ACA) is not going away. In spite of the many delays in implementation, the ACA is not only here to stay, but it continues to change and increase in complexity. Since initial passage, there have been more than forty changes: more than twenty unilateral changes by the Obama Administration, sixteen passed by Congress, and two by the Supreme Court. Fifteen of these changes occurred in the past year. 2014 is a critical year for business owners and employees in determining their health insurance options and costs and in structuring their fringe benefit programs. This course will focus on the key issues and planning strategies that CPAs and other tax practitioners need to know in order to advise their clients regarding this far-reaching legislation.
Major Topics:
Medical reimbursement plans -- new rules
Cafeteria plans -- what can you do today?
Self-insured plans -- changing considerations
Life insurance and disability insurance as an employer-provided fringe benefit
COBRA issues
Overview of health insurance changes affecting businesses
Shared responsibility excise tax penalty for large employers (i.e., 50 or more employees)
Calculating and defining the 50-employee count: watch out for related company rules!
How does this law affect small business? Should small employers retain health insurance coverage for their employees, or drop it and just pay a penalty? What issues confront small employers?
Options for individuals who do not have health insurance coverage through an employer: purchase coverage, or pay a penalty
What will health insurance look like in 2014? Pre-existing conditions now must be covered, but choices might be limited and costs of health care coverage should substantially increase. What do Bronze, Silver, Gold, and Platinum mean under the new law in terms of coverage and costs?
Small business health insurance credit: is it worth considering?
Form W-2 information on health ins. Costs required to be disclosed
Non-discrimination rules: what to watch out for
Learning Objectives:
Understand how the new health care act affects businesses and individuals
Recognize that new penalties apply to individuals and businesses
Understand what options employers have in offering certain types of fringe benefit plans

Designed For: CPAs in public accounting and industry who need to understand the changes and implications of the new health care law
Level of Knowledge: Update
Prerequisite: A working knowledge of tax law as it relates to health insurance
Advanced Preparation: None
Credits: 8
Field of Study: Taxes(8)
Discussion Leader: Susan Smith, CPA